The House of Representatives Economics Committee has commenced a short term inquiry into home loan lending practices and the processes used to deal with people in financial difficulty.
As part of the inquiry the committee will host a roundtable public hearing on 10 August 2007 with a range of key government and industry stakeholders.
Among the issues to be discussed at the roundtable are:
• Housing lending credit standards in Australia;
• The current level of mortgage defaults and foreclosures;
• The treatment of borrowers in financial difficulty; and
• The potential implications of declining credit standards for the Australian financial system.
The committee expects to report on or before 17 September 2007.